The Embassy of the Dominican Republic is an elegant building in DC’s 22nd Street NW neighborhood, with high ceilings and an imposing stairway that make you feel like a guest in a stately home. Wellington Bencosme ’95 has happily worked here since 2004, as Minister Counselor, Economic and Trade Affairs, for Ambassador Flavio Dario Espinal.
After graduating from UMass Amherst, Bencosme moved to New York to work in investment banking. He became a fi nancial consultant in Panama and eventually returned home to the Dominican Republic. “I wanted to be involved in the government and contribute to the country,” he recalls. In his position with the Economics Research Center for the Caribbean, he focused on international economics and was instrumental in facilitating trade agreements with the European Union. His success in these negotiations brought him to the attention of Ambassador Espinal, and in 2004, he returned to the United States with a new, high-profi le position.
In Washington, Bencosme has worked exclusively on shaping DRCAFTA, The Dominican Republic –Central American Free Trade Agreement. At the end of July 2005, his work came to fruition, as DRCAFTA won a diffi cult vote and was passed by the House, 217-215. Just a few weeks earlier, the Senate had passed it, 54-45.
The goal of the agreement is the creation of a free trade zone: the elimination of tariffs on US exports to the participating countries, El Salvador, Guatemala, Honduras, Nicaragua, Costa Rica, and the Dominican Republic. Since 2002, when President Bush announced that DRCAFTA was a priority in his administration, Congressional opinions have been mixed. Some have been highly supportive of its efforts to improve transnational cooperation and economic opportunity. Others, for a variety of reasons, argued strongly to defeat the agreement.
As an influential lobbyist, Bencosme met or spoke daily with the U.S. Trade Representative’s offi ce to coordinate positions. He also conferred with members of the U.S. business community whose interests were prominent in the DR-CAFTA area. He says of his work, “It required an orchestrated strategy at different levels, and a lot of coordination with the Department of Commerce, the Department of State, and the United States Trade Representative’s Office. We knocked on every possible door to try to get this through and get support.”
What benefits does this legislation offer? Bencosme sees the potential for important reforms within each DR-CAFTA country as a result of the agreement. “It provides the framework for a more stable environment. The agreement makes investors more comfortable because it’s not just local.”
When asked how his years at UMass Amherst prepared him for such a major role in developing multinational engagement, Bencosme says, “My academic experience meant everything to me.” Originally he took courses at the School of Management. “Then I found out about economics and started to focus on international finance and economics—it clarified my international interests.”
He also found the breadth of students at UMass Amherst a real benefit. “The diversity at UMass really made me want to explore the international field. After I graduated, I felt so prepared to take on the work I pursued. UMass provided me with confidence; it gave me a solid education and background, especially in economics.”
This past July, Bencosme assumed a new title: Deputy Chief of Mission, second in command to Ambassador Espinal. With much of his DRCAFTA work completed, it’s hard to predict exactly what Wellington Bencosme will focus on next, but he’s clearly poised for something newsworthy, in the U.S. and in Central America.
